Canadian Prime Minister Mark Carney says Canada will meet NATO’s military spending guideline by early next year.

Prime Minister Mark Carney promised to hit the alliance’s 2 percent spending threshold this year, seven years ahead of a previous schedule.

Saying that the era of the United States' dominance on the world stage is over, Prime Minister Mark Carney committed his government on Monday to meeting the NATO benchmark target of two per cent of the country's gross domestic product by the end of the current fiscal year in March.